[Click e-Stock] "Hanmi Pharmaceutical to Alleviate Performance Concerns by Recognizing Contract Payments in Q3"

On September 30, Korea Investment & Securities stated that Hanmi Pharmaceutical is expected to alleviate performance concerns by recognizing contract payments in the third quarter.

The previous day, Hanmi Pharmaceutical announced the technology transfer contract for "Ensaquida." The contract partner is Gilead Sciences, and the total contract value is 34.5 million dollars.

Wi Haejoo, a researcher at Korea Investment & Securities, explained, "Ensaquida is a technology that converts injectable drugs into oral formulations using Hanmi Pharmaceutical's Orascovery technology," and added, "The technology was transferred to a third party in 2011, and HealthHope Pharma is currently conducting clinical development of the oral paclitaxel anticancer drug 'Orascol' in the United States, Hong Kong, and other regions."

He further stated, "This technology transfer is a three-party agreement among Hanmi Pharmaceutical, HealthHope, and Gilead Sciences," and explained, "Gilead Sciences will use Ensaquida exclusively for virus prevention and new drug development purposes."

The researcher also noted, "Additionally, if Gilead Sciences requests the production of active pharmaceutical ingredients (API) or finished products, Hanmi Pharmaceutical can recognize revenue from such production," and analyzed, "With the resolution of performance uncertainty, interest in clinical momentum is expected to grow."

He added, "Since the contract date is September 29, the contract payment of approximately 3.5 billion won can be recognized in the third quarter from an accounting perspective."

This content was produced with the assistance of AI translation services.